Dubai to Build World’s Lowest Cost Solar Plant

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Dubai to Build Worlds Lowest Cost Solar Plant
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• Dubai has announced that it will build a gigantic
  800 MW solar plant, and the key highlight is that
  the plant will produce electricity at the most
  reasonable cost of 2.99 cents per kilowatt hour.

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• This means that Dubai is set to welcome the
  worlds lowest cost solar plant, surpassing the
  ever-dominant coal plant, which is the cheapest
  alternative as of now.

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• The cost is a complete 50 below the price a
  Saudi corporation bid just recently in the same
  solar plant in Dubai,

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a cost that at the time was a record less, but
has since been eclipsed by ever-lower prices.
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• This giveaway price offered by the developers
  doesnt profit from any clear subsidies,

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• and is the smallest price offered by any solar
  facility in the entire globe.

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Dubai to build worlds lowest cost solar plant
That cost of less than 3 cents per kilowatt hour
is one-third cheaper as compared to a coal plant,
which is also being built in Dubai and is
expected to launch by 202o.
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Impact of plunging solar costs

• Such plunging solar costs are indeed
  revolutionizing the electricity generating
  business.

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• The solar project is based on the traditional
  photovoltaic (PV) technology however of late, it
  seemed that the economies of large, so-called
  utility-scale projects, like this one would be
  cheaper using a latest and sophisticated solar
  technology called concentrating solar.

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• The solar technology collects the suns energy
  using molten salt, heating water and giant
  mirrors and produces power with the help of a
  steam turbine.

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• The method of generating electricity by heating
  water to drive a steam turbine is rather similar
  to a traditional coal-fired power park.

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• PV panels convert sunlight directly into power.

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• The project also suggests that there is immense
  potential in the tried-and-true PV panels.

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Key highlights of Dubai solar project
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• The solar project is part of Dubais aim of
  building the worlds lowest carbon footprint and
  consists of the third phase of the Mohammed bin
  Rashid Al Maktoum solar park.

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• The lead associate is Masdar, a clean energy
  company owned by the government of Abu Dhabi. The
  other associates are Spanish companies FRV and
  Gransolar Group.

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• Shareholder and power-purchase agreements are
  expected to be signed in the final quarter of
  2016.

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• It is based on an Independent Power Producer
  (IPP) model, hence is structured as a commercial
  project.

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• With the new solar project, Dubai is expecting to
  reach 25 clean energy by 2030 and 75 by 2050.

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